HB1162 regulates foreign ownership of land in Illinois, prohibiting certain entities from owning or acquiring land.
HB1162, the Foreign Land Ownership and Foreign Countries of Concern Act, restricts foreign ownership of land in Illinois. It prohibits certain entities, including those from designated foreign countries of concern, from owning or acquiring land. The act requires registration of existing foreign-owned land and imposes penalties for non-compliance. It also outlines exemptions for specific types of land and entities.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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